FCA fines plunge from £905m last year to £20m in 2016

APFA called for redistribution of fines to cover compensation cost

Carmen Reichman
clock • 2 min read

Fines handed out by the Financial Conduct Authority (FCA) in 2016 have seen a dramatic fall this year compared to last, as fewer banks appeared on the regulator's hit list.

In the first half year of 2016, the FCA dished out a total of £20m worth of fines to 14 recipients, compared with £905m (40 fines) in the whole of 2015 and £1.4bn (40 fines) in the year before. The only adviser fined this year was former Towry adviser Mark Taylor, who was found to have engaged in market abuse during its takeover negotiations with Ashcourt Rowan. Taylor was fined £36,285 in May and banned for a period of at least two years. He had bought shares in Ashcourt Rowan off the back of inside information accidentally provided to him in his role at Towry. Wealth manager W H ...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Regulation

Appointed representatives: Are you really in control of the risks?

Appointed representatives: Are you really in control of the risks?

'The FCA doesn't just want oversight, it wants evidence'

Paul Bruns
clock 06 October 2026 • 7 min read
Manchester City charges: Treasury Committee chair raises tax questions with HMRC

Manchester City charges: Treasury Committee chair raises tax questions with HMRC

As Tax Policy Associates points to potential £12m in unpaid tax

Jen Frost
clock 02 October 2026 • 2 min read
FCA opens authorisation gateway for crypto firms

FCA opens authorisation gateway for crypto firms

Ahead of supervisory framework coming into force

clock 01 October 2026 • 2 min read